Is it really for the environment? Felt cautious about the whole grand scheme of things.
Elon Musk says Tesla will stop accepting bitcoin for car purchases, citing environmental concerns
TeslaCEO Elon Musk said Wednesday on Twitter that Tesla has "suspended vehicle purchases using bitcoin," out of concern over "rapidly increasing use of fossil fuels for bitcoin mining.". The price of bitcoin dropped about 5% in the first minutes after Musk's announcement.In an SEC filing in February, Tesla revealed that it bought $1.5 billion worth of bitcoin and it may invest in more of bitcoin or other crypto currencies in the future.At that time, the company said it would start accepting bitc
Tesla: Beware Of The Unwinding Of The Gamma Squeeze
Tesla and other EV shares have been under some selling pressure in the last three months, the EV bubble is slowly deflating.Adverse publicity in China and increasing concern about the safety of Tesla’s FSD option is adding to the downdraft.In the company’s recent earnings call, Tesla CEO, Elon Musk, compared it to the logistics of managing World War 2. His claim was perhaps a slight exaggeration, but it illustrates the point.Despite the low-profit margins and past failed attempts by the likes o